Intrade announced Monday evening that it would be closing its site to U.S. bettors due to “legal and regulatory pressures.” Current customers have until Dec. 23 to close out existing “predictions” and until Dec. 31 to withdraw funds. Intrade said it will waive its withdrawal fee .

“We understand this announcement may come as a surprise and a disappointment, and we apologize for the short notice and haste required to deal with this. We would like to sincerely thank all US customers for their custom, support and loyalty over the years,” the company said.